There are already a total of six special laws that promotes the investment in clean energy, with Law 38 of August 9th, 2016 being the most recent. The latter regulates the exoneration of import taxes, duties, fees, and other levies for companies that build or operate solar power plants.
The recent incentives which apply to all natural or juridical persons that build, operate, or maintain solar power plants and/or facilities are as follow.
- Exoneration of import taxes, duties, fees, contributions and liens, as well taxes on the transfer of movable tangible property and service rendering, that are caused due to the import and/or purchase in the national market of equipment, machines, materials, parts and others that may be necessary for the construction, operation and maintenance of solar power plants or facilities.
- The solar power plants and/or facilities that, once this Law begins to apply, are in the construction phase, those that will have a time period of six months from the implementation of this law to request recognition of the exoneration to the Ministry of Economy and Finance would benefit of the exoneration.
- Autonomous and semi-autonomous entities may underwrite agreements with international organizations that allow them to secure financing, training, goods or equipment related to photovoltaic technology.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.